Profile: National Fuel Gas Co (NFG.N)
20 Jan 2017
National Fuel Gas Company, incorporated in 1902, is a holding company. The Company is an energy company engaged principally in the production, gathering, transportation, distribution and marketing of natural gas. The Company operates in five business segments: Exploration and Production, Pipeline and Storage, Gathering, Utility, and Energy Marketing. The Company operates an integrated business, with assets centered in western New York and Pennsylvania, and the production and transportation of natural gas from the Marcellus Shale basin. The Company also develops and produces oil reserves, primarily in California.
Exploration and Production Segment
The Company's Exploration and Production segment's operations are carried out by Seneca Resources Corporation (Seneca), a Pennsylvania corporation. Seneca is engaged in the exploration for, and the development and production of, natural gas and oil reserves in California and in the Appalachian region of the United States. As of September 30, 2016, Seneca had the United States developed and undeveloped reserves of 29,009 thousand barrels (Mbbl) of oil and 1,674,575 million cubic feet (MMcf) of natural gas.
Pipeline and Storage Segment
The Company's National Fuel Gas Supply Corporation (Supply Corporation), a Pennsylvania corporation, and Empire Pipeline, Inc. (Empire), a New York corporation, carry out the Company's Pipeline and Storage segment operations. Supply Corporation provides interstate natural gas transportation and storage services for affiliated and nonaffiliated companies through an integrated gas pipeline system extending from southwestern Pennsylvania to the New York-Canadian border at the Niagara River and eastward to Ellisburg and Leidy, Pennsylvania, and as of September 30, 2016, 27 underground natural gas storage fields were owned and operated by Supply Corporation, as well as four other underground natural gas storage fields were owned and operated jointly with other interstate gas pipeline companies.
The Company's Empire, an interstate pipeline company, transports natural gas for Distribution Corporation and for other utilities, industrial customers and power producers in New York State. As of September 30, 2016, Empire owned the Empire Pipeline, a 249-mile pipeline system comprising three principal components: a 157-mile pipeline that extends from the United States/Canadian border at the Niagara River near Buffalo, New York to near Syracuse, New York; a 77-mile pipeline extension from near Rochester, New York to an interconnection with the unaffiliated Millennium Pipeline near Corning, New York (the Empire Connector), and a 15-mile pipeline extension from Corning into Tioga County, Pennsylvania (the Tioga County Extension).
The Company's Gathering segment operations are carried out by its subsidiaries of National Fuel Gas Midstream Corporation (Midstream Corporation), a Pennsylvania corporation. Through these subsidiaries, Midstream Corporation builds, owns and operates natural gas processing and pipeline gathering facilities in the Appalachian region.
National Fuel Gas Distribution Corporation (Distribution Corporation), a New York corporation, carries out the Utility segment operations. As of September 30, 2016, Distribution Corporation sold natural gas or provided natural gas transportation services to approximately 742,235 customers through a local distribution system located in western New York and northwestern Pennsylvania. The principal metropolitan areas served by Distribution Corporation include Buffalo, Niagara Falls and Jamestown, New York and Erie and Sharon, Pennsylvania.
Energy Marketing Segment
The Energy Marketing segment operations are carried out by National Fuel Resources, Inc. (NFR). NFR markets natural gas to industrial, wholesale, commercial, public authority and residential customers in western and central New York and northwestern Pennsylvania, offering natural gas for its customers.
National Fuel Gas Co
6363 Main St
WILLIAMSVILLE NY 14221-5887
Company Web Links
- BRIEF-National Fuel Gas Co - CEO Ronald Tanski's FY 2016 total compensation $7.14 mln
- BRIEF-National Fuel Gas sends letter to GAMCO Asset Management regarding proxy access notice
- BRIEF-Gamco Asset Management says it delivered letter to National Fuel Gas nominating Lance Bakrow for election to co's board at 2017 annual meeting of stockholders
- BRIEF-National Fuel Gas qtrly operating earnings per share $0.66
- BRIEF-National Fuel Gas enters a third amended and restated credit agreement